The global scuba diving equipment market to grow at a CAGR of 3.78% during the period 2016-2020. Global Scuba Diving Equipment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend which is expected to boost market growth further is the increased demand for eco-friendly scuba diving equipment. The global scuba diving equipment market is registering an increase in the demand for eco-friendly wetsuits and drysuits in recent times. Organic, water-based adhesives, and recycled plastic materials are replacing the traditional leather, synthetic rubber, polyurethane, nylon, and other synthetic materials used as raw materials for these products.
The newly developed and advanced non-toxic material called thermoplastic elastomer is being increasingly used in manufacturing eco-friendly scuba diving equipment. Many dive institutions have begun to establish themselves as eco-operators, where they create marine sanctuaries by charging fees for their maintenance.
According to the report, a key growth driver is an increased interest in water sports. Water sports, including scuba diving, surfing, and snorkeling are becoming an inherent part of recreational activities, especially among soft adventure sports enthusiasts. Recently, there has been an increased emphasis on water sports by many government bodies, in an attempt to increase the revenue generated by the tourism industry across the globe. Various promotional campaigns are being run by local governments and tour operators in different countries, which, in turn, are resulting in the growth of the scuba diving industry as a whole.
Further, the report states that one challenge that could restrict market growth is the high cost of equipment. The average cost of good quality scuba diving equipment and certification is more than $1,000. This high cost of scuba diving equipment offered by global vendors translates to a significant challenge for the profit margins of renowned global vendors.
- American Underwater Products - Aqua Lung International - Johnson Outdoors - Mares - Sherwood Scuba
Other prominent vendors
- Apollo Sports - Aquatec - Duton Industry - BAUER Compressors - Beuchat International - Body Glove International - Cressi-Sub - Dive Rite - Diving Unlimited International - Zeagles Systems